Italy Treasury said on Wednesday it would offer up to 2 billion euros of its 5.75 percent Feb. 1 2033 BTP bond in exchange for five bonds.

BANCA CARIGE

The lender said on Thursday the conditions had not been fully met to create the consortium to guarantee its planned 560 million euro ($659 million) capital increase.

Carige management is exerting pressure on insurer Unipol to get it to take part in its planned 560 million euro cash call, La Repubblica said.

According to Il Sole 24 Ore, Carige’s board had priced the stock issue at 0.01 euros per share and decided to offer shares at a discount to TERP of between 26-27 percent. (*) Il Messaggero said the discount to TERP was above 40 percent and the share issue was priced at 1-2 cents.

ENAV, ENI

Italy’s Treasury has sent a letter to Cassa Depositi e Prestiti (CDP) to formally start the sale to the state lender of stakes in air traffic controller ENAV and energy group ENI, a source with knowledge of the matter said on Thursday.

ERG

Erg has signed an agreement with VEI Green to buy ForVei, the ninth largest photovoltaic operator in Italy, in a deal valued at 336 million euros.

FIAT CHRYSLER

Industry-wide European car sales rose 5.9 percent in October, according to industry data published on Thursday, with Renault and Toyota leading the gains among volume carmakers.

Fiat Chrysler said its European sales in October were up 1.5 percent year-on-year.

TELECOM ITALIA

Vodafone plans to use its expertise in customer data to help to fend off competition in Italy from French newcomer Iliad and avoid an India-style price war, its chief executive said on Wednesday.

ENEL, OPEN FIBER, TELECOM ITALIA

Italian broadband company Open Fiber said on Wednesday it had appointed Elisabetta Riva as chief executive to replace Tommaso Pompei, confirming what sources said on Tuesday. (*) Enel has no intention to exit broadband firm Open Fiber’s share capital, the utility’s CEO Francesco Starace told Il Sole 24 Ore. The executive also ruled out the idea of creating one network company together with Telecom Italia, saying it didn’t “make sense neither for Open Fiber nor Telecom Italia”.

CREDITO VALTELLINESE

The lender said ratings agency DBRS downgraded its ratings to “BB” from “BB (high)”, under review with negative implications.

INTESA SANPAOLO

SALINI IMPREGILO

The company said new orders acquired so far in 2017 amounted to 4.3 billion euros, including variation orders, while tenders awaiting outcome amount to 10 billion euros. The group also confirmed its guidance for the year.

MASI AGRICOLA

The company said 9-month EBITDA fell to 8.4 million euros from 10.7 million a year ago.

DADA

The company said 9-month net profit rose to 2.1 million euros from 0.2 million a year ago.

PANARIAGROUP

The company said third-quarter net profit fell to ‍​0.5 million euros from 1.7 million a year ago.